Practical ownership for house property income: possession, payment, and rent receipt can satisfy section 22 despite no registered deed.

For section 22, "owner" is applied in a practical sense: a person who has paid the consideration, is in possession and enjoyment of the property, has let it out, and actually receives rent may be treated as the owner even if a registered sale deed has not yet been executed. On that basis, the rental receipts were correctly assessable in the assessee's hands as income from house property, and the argument that the income was not taxable at all or could not fall under another head failed. The later insertion of section 2(47)(v) was stated not to alter that position for the controversy considered.

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Issues: Whether rental income from the property could be assessed under the head "Income from house property" in the hands of the assessee despite the absence of a registered sale deed and the assessee's plea that, failing section 22, the income was not taxable at all or could not be brought under "other sources".

Analysis: The assessee had paid the full consideration, was in possession, had let out the property, and had actually received rent. The meaning of "owner" in section 22 was applied in a broad and practical sense, consistent with the principle that tax law should not be made an instrument of oppression. The earlier judicial view on legal title was read in light of later authority holding that a person who has paid the consideration and is in actual possession and enjoyment may be treated as owner for section 22 purposes, even though formal conveyance remains pending. The subsequent insertion of section 2(47)(v) did not alter the position for the present controversy.

Conclusion: The rental income was correctly assessable in the assessee's hands under the head "Income from house property". The plea that it was not taxable at all failed.

Final Conclusion: The assessee's challenge to the assessment of the rental income did not succeed, and the income was held taxable as house property income with the consequential deductions applicable to that head.

Ratio Decidendi: For section 22, "owner" includes a person who has paid the consideration, is in possession and enjoyment of the property, and derives the income therefrom, even if legal title has not yet been conveyed by a registered deed.

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